The Cybercrime Unit of the Hyderabad Police has arrested a man from Uttar Pradesh in connection with a stock trading fraud that defrauded a 35-year-old private employee in Hyderabad of Rs14.6 lakh.
The accused, Shiva Shankar, 27, a data entry operator from Gautam Buddha Nagar, Noida, was arrested for his involvement in a fraudulent scheme that promised investors high returns on their stock market investments. According to the police, Shankar is linked to two cases of similar frauds across India, including one in Telangana.
Shiva Shankar’s arrest comes after an investigation revealed his role in deceiving unsuspecting investors with the false promise of lucrative stock trading opportunities. He used deceptive tactics to lure victims into investing large sums, ultimately causing significant financial losses.
The police have confirmed that further investigations are underway, as Shankar faces charges in multiple states for his involvement in fraudulent schemes targeting investors.
